Hang Seng Index Up 208 Points in Afternoon Trading; BYD Jumps 8.7%

The Hang Seng Index rose 208 points, or 0.9%, to 23,089 as of 1:20 p.m. on July 2, Hong Kong's first trading day of the month. The National Index gained 0.9% to 7,625 points, while the Tech Index added 0.3% to 4,486 points.

Major tech stocks led gains, with Alibaba up 2.2%, Tencent rising 2.1%, Meituan climbing 3.4%, Xiaomi surging 4.5%, and Kuaishou advancing 3.9%. BYD was the best performer among blue-chip stocks, jumping 8.7% to 78.75 yuan, following reports that the company will equip new models with self-developed chips starting next year. Chip stocks declined, with SMIC falling 9.8% and Huahong Semiconductor dropping 11%.